API security company Salt Security has secured $40m in its Series D funding round, which was led by CapitalG.
With the close of the investment, the company has reached a $1.4bn valuation.
The investment was also supported by all of Salt Security’s previous investors, including Sequoia Capital, Y Combinator, Tenaya Capital, S Capital VC, Advent International, Alkeon Capital and DFJ Growth.
Funds from the round will help Salt Security bolster its R&D efforts, grow sales and marketing and increase its international operations.
Salt Security’s API Protection Platform is the industry’s first patented solution to combat API attacks. Through AI and machine learning technology, it automatically and continuously identifies and protects APIs.
This funding round comes less than eight months after its $70m Series C funding round. Since then, it has hired several key industry leaders, launched operations in the EMEA and LatAm.
With the close of the round, the company has raised a total of $271m, of which, $210m was raised in the past 12 months.
Over the past 12 months Salt Security has increased its revenue by 500%, its customer base by 300% and its employee count by 250%.
CapitalG partner James Luo said, “Our investment in Salt Security comes at a time of critical importance for the wider business community. APIs are essential to enabling business innovation, but security risks are multiplying at an unprecedented scope and scale. Salt took an innovative, best-in-class approach to building its API security platform leveraging cloud-scale big data, allowing it to effectively detect and stop attacks in the wild while not compromising on strong shift left capabilities.
“Salt Security has a proven record of success as the leading solution in the market, and our conversations with customers made it clear that Salt is providing them with market-leading protection and the fastest time to value. We look forward to partnering with the team at Salt Security to help it catapult into the next tier of market penetration and success.”
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